Suzano and Kimberly-Clark are forming a $3.4 billion joint venture to produce and market tissue products in over 70 countries.
Suzano will acquire a 51 per cent stake for $1.734 billion.
The venture includes 22 plants with 1 million tonnes annual capacity and 40+ brands.
Closing is expected mid-2026.
Suzano will hold majority control and has a call option to buy the remaining 49 per cent.